VOL. XCIV, NO. 247

★ WIDE MOAT STOCKS COMPARISON ★

NO ADVICE

Stock Comparison

Amgen Inc. vs Bristol-Myers Squibb Company

Compare moat strength, market structure, and segment coverage to understand how each company defends its edge.

Amgen Inc.

AMGN · Nasdaq Stock Market

Market cap (USD)$202B
Gross margin (TTM)70.5%
Operating margin (TTM)28%
Net margin (TTM)21%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
70/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Amgen Inc.'s moat claims, evidence, and risks.

View AMGN analysis

Bristol-Myers Squibb Company

BMY · New York Stock Exchange

Market cap (USD)$123.5B
Gross margin (TTM)67.7%
Operating margin (TTM)26.3%
Net margin (TTM)14.6%
SectorHealthcare
IndustryDrug Manufacturers - General
CountryUS
Data as of2025-12-22
Moat score
56/ 100

Weighted average of segment moat scores, combining moat strength, durability, confidence, market structure, pricing power, and market share.

Full stock profile

Dive deeper into Bristol-Myers Squibb Company's moat claims, evidence, and risks.

View BMY analysis

Comparison highlights

  • Moat score gap: Amgen Inc. leads (70 / 100 vs 56 / 100 for Bristol-Myers Squibb Company).
  • Segment focus: Amgen Inc. has 3 segments (80.1% in Core Innovative Medicines); Bristol-Myers Squibb Company has 5 segments (27.6% in Eliquis franchise (apixaban)).
  • Primary market structure: Competitive vs Oligopoly. Pricing power: Moderate vs Moderate.
  • Moat breadth: Amgen Inc. has 5 moat types across 3 domains; Bristol-Myers Squibb Company has 4 across 3.

Primary market context

Amgen Inc.

Core Innovative Medicines

Market

Branded biopharmaceutical therapies for common diseases (bone health, inflammation, oncology, cardiovascular and other specialty areas)

Geography

Global

Customer

Payers, providers, and pharmacies

Role

Drug developer/manufacturer

Revenue share

80.1%

Bristol-Myers Squibb Company

Eliquis franchise (apixaban)

Market

Direct oral anticoagulants (DOACs) for stroke prevention in NVAF and treatment/prevention of DVT/PE

Geography

Global

Customer

Payers, PBMs, hospitals, clinics, pharmacies

Role

Branded drug manufacturer (co-commercialization alliance)

Revenue share

27.6%

Side-by-side metrics

Amgen Inc.
Bristol-Myers Squibb Company
Ticker / Exchange
AMGN - Nasdaq Stock Market
BMY - New York Stock Exchange
Market cap (USD)
$202B
$123.5B
Gross margin (TTM)
70.5%
67.7%
Operating margin (TTM)
28%
26.3%
Net margin (TTM)
21%
14.6%
Sector
Healthcare
Healthcare
Industry
Drug Manufacturers - General
Drug Manufacturers - General
HQ country
US
US
Primary segment
Core Innovative Medicines
Eliquis franchise (apixaban)
Market structure
Competitive
Oligopoly
Market share
n/a
n/a
HHI estimate
n/a
n/a
Pricing power
Moderate
Moderate
Moat score
70 / 100
56 / 100
Moat domains
Legal, Supply, Demand
Legal, Demand, Supply
Last update
2025-12-22
2025-12-22

Moat coverage

Shared moat types

IP Choke PointCapex Knowhow Scale

Amgen Inc. strengths

Regulated Standards PipeBrand TrustLearning Curve Yield

Bristol-Myers Squibb Company strengths

Procurement InertiaSwitching Costs General

Segment mix

Amgen Inc. segments

Full profile >

Core Innovative Medicines

Competitive

80.1%

Rare Disease Portfolio (Horizon + others)

Quasi-Monopoly

13.3%

Biosimilars

Oligopoly

6.6%

Bristol-Myers Squibb Company segments

Full profile >

Eliquis franchise (apixaban)

Oligopoly

27.6%

Immuno-oncology checkpoint inhibitors (Opdivo/Yervoy/Opdualag)

Oligopoly

26.4%

Hematology (Revlimid/Pomalyst/Reblozyl)

Competitive

23%

Immunology (Orencia/Sotyktu)

Competitive

8.1%

Other specialty & emerging products (CAR-T, cardiomyopathy, neuroscience, and mature brands)

Competitive

14.9%

Want the full wide moat stocks list?

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Proven models entering the expansion stage with unit economics that work.

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Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.